01/18/94 - Laserfiche WebLink

Home

and holiday closing) or (ii) during which any financial emergency situation exists as a result of which disposal by l~he 4M Fund of 4M Fund Property is not reasonably practicable because of the substantial losses w,~hich might be incurred or it is not reasonably practicable for the 4M Fund fairly to determine~the value of its net assets. Such suspension or postponement shall not alter or affect a Participarr, t's beneficial interest hereunder as measured by its Shares or the accrued interest and earninss thereon. Such suspension or payment shall take effect at such time as the Trustees shall specify but not later than the close of business on the business day next following the declaration of si~spension, and thereafter there shall be no right of withdrawal or payment until the Trustees shall declare the suspension or postponement at an end, except that the suspension or postponement shall 'terminate in any event on the first day on which the period specified in clause (i) or (ii) above s~hall have expired (as to which, the determination of the Trustees shall be conclusive). In the~case of a suspension of the right of withdrawal or a postponement of payment pursuant to withdra~"al requests, a Participant may either (i) withdraw its request for withdrawal or (ii) receive payment based on the net asset value existing after the termination of the suspension. 6.7 Minimum Withdrawal. There shall be no minimum amount which may be withdrawn from the 4M Fund? at any one time at the option of a Participant; provided, however, that no request by a ParticiPant for the withdrawal of less than one dollar ($1.00) need be honored. 6.8 Defactive Withdrawal Requests. In the event that a Participant shall submit a request for the wit~hdrawal of a greater amount than is then credited to the account of such Participant, such request shall not be honored, and each Participant, by its adoption of this Declaration of TruS, t, agrees that the Trustees shall have full and complete power to withdraw funds from the ac~.ount of a Participant, and to reduce proportionately the number of Shares allocated to such Participant in accordance with Section 6.5 hereof, in an amount sufficient to reimburse the 4M Fland for any fees, expenses, costs or penalties actually incurred by the 4M Fund as a result of such d~fective withdrawal request. 6.9 .Alloc~ation of Certain Expenses. Each Participant will, at the discretion of the 4M Fund, indemnify the 4M Fund against all expenses and losses resulting from indebtedness incurred on that Participant'si behalf under Section 4.2(iv)(b) or (c) hereof. Each Participant authorizes the Trustees to reduce its Shares to the number of Shares which reflects that Participant's proportion- ate interest in the net assets of the 4M Fund after allocation of those expenses and losses to it. ARTICLE VII Record of Shares 7.] Share~Re~.ister. The Share Register shall be kept by or on behalf of the Trustees, under the direction ~f the Trustees, and shall contain (i) the names and addresses of the Partici- pants, (ii) the numbe~' of Shares representing their respective beneficial interests hereunder and (iii) a record of all allocations and reductions thereof. Such Share Register shall be conclusive as to the identity of the ;Participants to which the Shares are allocated. Only Participants whose allocation of Shares ~is recorded on such Share Register shall be entitled to receive distributions with respect to Sharp, es or otherwise to exercise or enjoy the rights and benef/ts related to the beneficial interest hereunder represented by the Shares. No Participant shall be entitled to receive any distribution, nor; to have notices given to it as herein provided, until it has given its appro- priate address to such officer or agent of the Fund as shall keep the Share Register for entry 23